TCI Fund Management

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Chris Hohn's TCI Fund Management reported 10 stock positions worth $39.7 billion. Its top holding was General Electric (GE) at 20.7% of the portfolio, followed by Canadian Natl Railway (CNI, 13.1%) and Canadian Pacific Kansas City (CP, 12.2%). Compared with Q4 2023, it sold out of 1, added to 3 and reduced 4. The biggest buy was General Electric (GE, shares +12%) and the biggest sale Thermo Fisher Scientific (TMO, shares −52%).

Most Recent 13F
Q2 2026
Notable People
Chris Hohn
Location
LONDON, X0
CIK
0001647251
Portfolio Value
$39.7B (Q1 2024)
SEC Filing
0001647251-24-000004 ↗ filed May 15, 2024

Holdings Value

0$20.0B$40.0B$60.0B Q1 2024: $39.7B $39.7B Q1 2024 Q2 2024: $40.9B Q2 2024 Q3 2024: $44.0B Q3 2024 Q4 2024: $42.4B Q4 2024 Q1 2025: $43.4B Q1 2025 Q2 2025: $50.7B Q2 2025 Q3 2025: $52.7B Q3 2025 Q4 2025: $53.6B Q4 2025 Q1 2026: $45.2B Q1 2026 Q2 2026: $52.8B Q2 2026

Holdings 10 stocks · $39.7B
GE General Electric 20.72% 46,809,215 $8.2B Add +12.4%
CNI Canadian Natl Railway Co. 13.12% 39,488,385 $5.2B Reduce -1.5%
CP Canadian Pacific Kansas City 12.21% 54,913,285 $4.8B Reduce -1.1%
MCO Moody's Corp. 12.09% 12,198,911 $4.8B Add +1.2%
V Visa Inc. Class A 11.82% 16,797,187 $4.7B No change
MSFT Microsoft Corp. 11.17% 10,531,890 $4.4B Reduce -1.0%
SPGI S&P Global Inc. 9.69% 9,032,611 $3.8B No change
GOOG Alphabet Inc. Class C 6.50% 16,927,056 $2.6B No change
TMO Thermo Fisher Scientific Inc. 2.22% 1,517,639 $882.1M Reduce -51.8%
GOOGL Alphabet Inc. Class A 0.46% 1,210,591 $182.7M Add +669.1%

Portfolio Sells Q4 2023 → Q1 2024
TMO Thermo Fisher Scientific Inc. Reduce -51.8% 2.22% −2.42
CNI Canadian Natl Railway Co. Reduce -1.5% 13.12% −0.89
FERG Ferguson Jersey Ltd. Sold out 0.00% −0.23
CP Canadian Pacific Kansas City Reduce -1.1% 12.21% −0.00
MSFT Microsoft Corp. Reduce -1.0% 11.17% +0.05

Portfolio Buys Q4 2023 → Q1 2024
GE General Electric Add +12.4% 20.72% +5.94
GOOGL Alphabet Inc. Class A Add +669.1% 0.46% +0.40
MCO Moody's Corp. Add +1.2% 12.09% −0.99

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$52.8BGE, V, MCO, SPGI, CP
Q1 2026 10$45.2BGE, V, MCO, SPGI, CP
Q4 2025 9$53.6BGE, V, MSFT, MCO, SPGI
Q3 2025 9$52.7BGE, V, MSFT, MCO, SPGI
Q2 2025 10$50.7BGE, MSFT, V, MCO, SPGI
Q1 2025 10$43.4BGE, MSFT, MCO, V, SPGI
Q4 2024 10$42.4BGE, MCO, MSFT, V, SPGI
Q3 2024 10$44.0BGE, MCO, SPGI, MSFT, CP
Q2 2024 10$40.9BGE, MCO, MSFT, CNI, SPGI
Q1 2024 10$39.7BGE, CNI, CP, MCO, V